Malaysia – Continuing to help businesses accelerate digital transformation in the country, Maxis has officially launched the Digital Readiness Index (DRI), which is a first-of-its-kind online and interactive self-assessment tool that helps companies of all sizes across industries assess their level of digital readiness.
At the virtual launch, Maxis’ Chief Enterprise Business Officer Paul McManus said the telco’s studies and continuous engagement with SMEs over the years have made clear the segment needs strong support to adapt to a rapidly changing landscape and to accelerate digitalization.
The DRI has the potential to generate actionable insights on the state of digital transformation of businesses and industries in the nation, including for government, particularly as a consideration for policy implementation and best practices for digital adoptionPaul McManus, Chief Enterprise Business Officer at Maxis
YB Dato Sri Dr. Haji Wan Junaidi Tuanku Jaafar, the Minister of Entrepreneur Development and Cooperatives (MEDAC) commented, “For SMEs and entrepreneurs to grow in the domestic market and even expand into international markets, digital readiness will be imperative. Going digital is not an option but a necessity for survival. We, therefore, welcome the DRI initiative, which is in line with the Ministry’s vision to foster a holistic and conducive ecosystem of entrepreneurship in the country.”
In conjunction with the launch, Maxis and MEDAC will be collaborating on several initiatives through the Ministry’s agencies – National Entrepreneurship Institute (INSKEN), TEKUN Nasional, and Co-operative Institute of Malaysia (IKKM).
These include incorporating the DRI into INSKEN’s ongoing targeted modules and trainings, exploring collaboration on Maxis’ Digital Entrepreneurship Workshop, and digital solutions for the Micro and SME segments. In addition, Maxis will also be sharing yearly updates of digital readiness in the country with the agencies through insights generated from the DRI to help them measure digital adoption rates in the country.
The DRI, which can be accessed through Maxis’ business website, analyzes three key pillars in business: customer satisfaction, employee productivity, and operational efficiency. A formula then determines the score for each pillar that tabulates a total score to gauge digital readiness – ranging from “Ready”, “Nearly Ready”to “Not Ready” and “At Risk”.
Alongside the general rating, the final report also provides competitor analysis, industry benchmarking as well as recommendations on the most suitable digital solutions for their needs. Companies can also opt to follow up with guidance from dedicated Maxis consultants.
The tool had been piloted among 2,000 SMEs across industries retail, manufacturing, and transportation among others, where early insights showed that 58% of Malaysian SMEs are categorized as “Not Ready” in reaching its full potential in embracing digital technologies.
It also found that most SMEs are at the basic level when it comes to their customer engagement, where 61% are using email, while 40% use the holy grail social media as main communication channels. Meanwhile, only 26% of SMEs in the transportation, manufacturing, trade, and oil and gas sector track their company’s vehicles digitally.
Maxis earlier launched its “Retransformation” campaign in September, which calls on organizations in Malaysia to rethink and reevaluate their digital transformation strategies.
On the DRI, Maxis collaborated with multinational telecom company Vodafone which launched a similar Index in Europe.